ED Returns ₹3.82 Crore to Waqf Board

Quick Summary

• The Directorate of Enforcement (ED) facilitated the return of ₹3.82 crore swindled from the Karnataka State Waqf Board.
• Allegations arose from an FIR against two Vijaya Bank officials and Syed Siraj Ahmed, an assistant with the Karnataka State Waqf Board.
• The case involved misuse of two ₹4 crore cheques meant for fixed deposits, which were redirected to fictitious entities and companies. Over ₹1.1 crore was used to purchase a luxury vehicle, while ₹2.72 crore was transferred to another company account named Ajay Sharma Trading Corporation.
• ED conducted investigations and issued a provisional attachment order totaling ₹3.82 crore while filing a prosecution complaint (PC) against six individuals/entities under PMLA in 2017.
• On July 1, 2025, funds were officially released after ED raised no objections before the special PMLA court during proceedings.
• A banker’s cheque for ₹3.82 crore was handed over to Jeelani H Mokashi, CEO of Karnataka State Waqf Board.

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Indian Opinion Analysis
This case highlights important actions taken by enforcement agencies in India to address financial fraud targeting public or semi-public entities like the Karnataka State Waqf Board. by ensuring that recovered proceeds are returned without procedural delays or objections once rightful claims are validated, the ED underscores its role in tackling economic crimes transparently under laws such as PMLA (Prevention of Money Laundering Act).The swift resolution is likely reassuring for institutions relying on government oversight when exposed to systemic vulnerabilities within organizations like banks or boards managing public welfare funds. This scenario also emphasizes vigilance needed across organizational structures in preventing siphoning off public money into private hands through fictitious operations-a recurring challenge across sectors in India’s financial landscape.

For further details: [Published – July 08, 2025]